Cattle: Cash cattle last week: $144.-145.00 and $230-231.00 dressed North. On 88 boxed loads cut outs up. $2.09(c) to up. $2.87(s) on moderate midday movement.
Comments: LATE: $152.00 NEBRASKA REPORTED.—NEW RECORD HIGH.
Hogs: Interior hogs NOT/EST.
Pork cut outs rose $.14 midday.
Comments: New highs April some profit taking in June, but no major reversal there. Some cattle/hog summer spreading evident.
GRAINS & OILSEEDS:
Corn: New swing highs backgrounded in part by beans but also 1 forecaster (maybe there’s more!) saying it will be cold the next 60 days ALONG with above normal precipitation to delay plantings.
Soybeans: New contract highs off ‘oversold’ U.S. stocks; on Brazil’s either rainfall fungus decreasing the crop or the drought decreasing the crop; and of course China buying yesterday.
Wheat: Not with the ‘bull program’ today and might have been a casualty of inter-market spreading. Regardless of cancelled export sales and regardless of seemingly ample world supplies. Hit hard late on apparent SCO orders.